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20130318
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to mislead anyone. the hearings continue with other jp morgan execs. president obama is proposing a plan to fund clean-energy research. in a speech friday, the president laid out his plans, suggesting that the government draw $2 billion from royalties that the government receives for offshore drilling. researchers would attempt to find new ways to lower the cost of cars that run on alternative fuel sources. a closely watched case involving the drug industry will be heard by the supreme court tomorrow. generic drugmakers could soon make it harder for consumers to sue for a drug's side effects. under federal law, generic and brand name drugs are required to have the same warning label. now, generics are attempting to decrease liability over any harmful effects. generic companies say the industry is unable to change the product due to those federal standards. a hidden affordable care act fee is popping up for u.s. employers. the $63 fee will apply to plans covering millions of americans in 2014. it applies to employers who take on workers' medical bills and some private plans sold by insure
. president obama is nominating thomas perez as his next secretary of labor. "he helped pay his way through college as a garbage collector and working at a warehouse, he went on to become the first lawyer in his family, so his story reminds of this country's promise. if you are willing to work hard, it doesn't matter who you are, where you come from, or what your last name is, you can make it." mr. perez currently serves as assistant attorney general and is the son of immigrants from the dominican republic. if confirmed by congress, he will likely tackle changes to immigration and minimum wage. one of the first industries outside of government to feel the pain of sequester cuts is travel. after the automatic budget cuts took effect, non- essential travel by federal employees was eliminated. that translates into a loss of at least 30% of the business for some hotels. the faa has also threatened the closing of control towers at smaller airports and longer lines at bigger airports, all due to the automatic sequester cuts. boeing may be losing altitude with customers. spice jet limited, an ind
of president obama's appointments. this week the committee voted unanimously to approve mary jo white as head of the sec. she is expected to be approved by the full senate later this week. meanwhile, the committee voted 12-to-10 on the nomination of consumer financial protection bureau head richard cordray. republicans may vote in order to block the nomination. some lawmakers have aruged they want more than one head to the bureau. the eyes of the sec and department of justice are on microsoft. according to the wall street journal, the probe involves microsoft's relationship with firms accused of bribing foreign officials in china, italy and romania. microsoft is not accused of any wrong doing. however, the sec is charging investment manager craig berkman with promising investors he had special access to pre-ipo stock in facebook, linkedin, zynga and groupon. berkman is accused of using their money to pay off earlier investors, similar to a ponzi scheme. ryan air ceo michael o'leary gives a colorful description of boeing's dreamliner safety concerns. reducing the issues with the new jet's lith
to president obama about it "a bit." and regarding cyprus, the fed chair calls the situation "difficult" but not a risk to the u.s. financial system. now onto the situation in cyprus... the country needs $7.5 billion dollars asap. and it might not come from the ecb. yesterday, the european central bank reportedly signaled it's prepared to cut off funding to the mediterranean island -- causing a financial meltdown. a rescue could still come from russia or bank bondholders. cyprus has a supersized banking system often used by russian's to house money. it's a busy week for companies launching their initial public offerings...such as model n-- which rocketed up in value from the outset. in all---eight i-p-os this week---about seven more than the number last week. our cover story takes a look at why now. (ring-a-ling) from the opening bell, "model n" took off like a racehorse. in the tradition of silicon valley helping businesses run better, "model n" develops software that allows companies to manage different revenue streams as one. "it's trading at 33% higher than it's ipo price of 15-
. president obama is expected to sign the legislation soon. meanwhile, $85 billion in federal cuts continue to take effect. 1 million federal employees still face unpaid time off. also in washington, the house has approved representative paul ryan's controversial budget. through $4.6 trillion in spending cuts, the bill aims to balance the federal budget in ten years. it would repeal the affordable care act and turn medicare into a voucher program. house speaker john boehner said ryan's budget helps balance the federal budget. "the american people overwhelmingly support balancing our budget, a budget senate democrats are considering never balancing. that means more debt, fewer jobs, and, frankly, much higher taxes." meanwhile, democrats criticized the bill's lack of funding to healthcare programs. "one of the core elements of the ryan budget plan that gives us real partisan concern is that it doesn't keep our promises to our seniors, to our veterans, to our most vulernable population." the budget has no chance of passing the senate. lawmakers leave capitol hill for a two week recess after to
Search Results 0 to 4 of about 5